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GPT Group HY FFO Increases - Quick Facts

GPT Group (GPT.AX,GPTGF.PK) reported that its funds from operations for the half year ended 30 June 2019 was A$295.9 million, an increase of 2.2 per cent on the prior comparable period, driven by strong operating income from high quality Australian office and logistics properties FFO per security increased by 2.0 per cent year-over-year to 16.36 cents.

Net profit after tax was A$352.6 million, a decrease of 51.6 per cent on the prior comparable period, due to lower property valuation increases of A$130.8 million and a higher negative mark to market of financial instruments of A$82.3 million driven by lower market swap interest rates.

Total revenue and other income for the period decreased to A$645.2 million from A$946.3 million in the prior year.

The Group reaffirmed guidance of 2.5 per cent growth for FFO per security and 4.0 per cent growth in Distribution per security for fiscal year 2019.

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